ur financials project · 2013-10-14 · october 16, 2013 reporting strategy - overview ur...

UR Financials Project Demo Days

October 16, 2013

October 16, 2013

Agenda

• Demo Disclaimer • UR Financials Project Update

– Upcoming Demo Days – UR Financials Project Timeline

• Workday Reporting Strategy – Overview, process changes, data conversion process – Benefits and Challenges

• Workday Demo – Prototypes of Monthly Ledger and Monthly Transactions

Report – The Power of Worktags

• Q & A • Wrap Up

UR Financials – Demo Days 2

October 16, 2013

Chatting for WebEx Participants

3

Mike Bonanno

For those joining the WebEx: • 1) Please access the chat feature at the top of

your screen • 2) Please chat directly with Mike Bonanno

(He will then pose the questions on your behalf)

• 3) Select Mike in the drop down menu in the chat window (do not select “everyone”)

UR Financials – Demo Days

October 16, 2013

Demo Disclaimer

Please Note:

• The material presented in this PowerPoint deck is provided to introduce participants to the capabilities of Workday Financials.

• The configuration of Workday for the University of Rochester is still in process and will continue to evolve.


October 16, 2013

UR Financials Project Update

• Topics for upcoming Demo Days

– November: Training

– December: General Update

• Starting January, 2014 - Project Updates

– Testing

– Training

– Data Conversion and Validation

– Cut-Over Plans


October 16, 2013

UR Financials Project Timeline


Prototype Phase

July 2013

• Configure Prototype Tenant (P1) – completed

• Unit Test

• Validate Configuration

• Build Integrations and Reports

• Initial FRS Data Conversion

• Final Configuration Prototype

Test Phase

November 2013

• Create Test Cases and Scenarios

• System Test

• Conversions

• User Acceptance Test (UAT)

• Begin End User Training

Deploy Phase

July 2014

• Go Live Checklist

• Production Readiness Review

• Go Live

• Continue End User Training

• Post Production Support

• Post Project Review

We are here End User Training Spring through Summer 2014

October 16, 2013

Reporting Strategy - Overview


• Workday will be the primary reporting tool used for financial

reporting.

– 1 year of historical summary / balance data will be loaded into Workday

– We will be providing FY14 converted data in Workday reports to reconcile with

existing FRS and COGNOS reports.

• Cognos Financial Data Warehouse will be frozen in July 2014

(after fiscal year close).

– But, FY2014 and prior data will still be accessible after Workday Go-Live.

– Still in FRS Chart of Account terms.

• CumSal and other Cognos datamart systems will accessed in a

similar manner as today; but will be in Workday terminology.

October 16, 2013

Reporting Strategy – Primary Benefits


8

Real time transaction reporting

Drill, slice, pivot, and drill some more

Structured Financial Reporting

Ad-hoc analysis & Worklets

Analytical indicators & Alerts

Excel capabilities

Security and Audit Trails

Mobile integration

8

Demo Today Demo - May

Demo Today Demo 2014

Demo Today Demo - Mar

Demo - June

Demo 2014

Demo 2014

October 16, 2013

Reporting Strategy – Primary Challenges


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Workday Report Functionality

Financial Statements need greater flexibility

Grant Reporting (WD19 = Grant 1.0)

New System

Different than Cognos

Users of historical data

Prior year detailed analysis

Multi-year reporting

Users of complex Excel files or

secondary systems

WD Security Model / Roles TBD

9

WD21 WD22

Training Adoption

COA Translator

Need to change

Prototype Phase

October 16, 2013

Reporting Strategy - Summary


Challenges ahead, but building like for like report versions

• Incorporate new functionality when possible.

Reporting team met with numerous departments across the

University to review reporting needs.

• Cataloged and reviewed 500+ Cognos / FRS reports

• Reviewed Data Warehouse report usage statistics. (80%+ Monthly Ledger / Transactions)

Workday Prototyping

• Prototyped all types of Workday reports and capabilities

• Prototyped 100+ reports (note: Go-Live list will be less)

• Monthly Ledger, Monthly Transactions, and the Power of Worktags

Demo Time

October 16, 2013

Demonstration 1


Prototype for Monthly Ledger Report

This prototype leverages the “Manager Financial Report Functionality”

Includes security based on Workday roles

Prior to Go-Live will include the fields necessary to replicate the

Monthly Ledger.

• Note: Screenshots in Appendix B

https://wd5-impl.workday.com/Rochester1/login.flex

October 16, 2013 12

Cognos Monthly Ledger Report Monthly Ledger includes data by: • Subcodes, Budgets, Current Month Actual, Year to date, Project to date,

Balance, and variances to budget.

• Includes subtotaling by subcodes.


October 16, 2013 13

Workday Prototype Monthly Ledger Report

• Prior to Go-Live will include fields that replicate Cognos version.

• Note the similar format, including subtotals.


Subcodes

Will Include: • Spend

Category • Ledger

Accounts • Current Month • Fiscal YTD • Budget Amt • Variance to

Budget i.e. expect similar columns as today

https://wd5-impl.workday.com/rochester1/fx/home.flex%3Brochester1%3Bhome.flex

October 16, 2013

Demonstration 2


Prototype for Monthly Transaction Report

This prototype leverages a spreadsheet-like feature in Workday.

Includes subtotals similar to Monthly Transaction Report

Ability to drill into Journal Lines.

• Note: Screenshots in Appendix C


October 16, 2013 15

Cognos Monthly Transaction Detail Monthly Transaction Detail includes:

• Subcodes, Subcode description, Transaction Description & Dates, Offset, Batch, and Transaction Amounts.


October 16, 2013 16

Workday Prototype Monthly Transactions

• Prior to Go-Live will include fields that replicate Cognos version.

• Note the similar format, including subtotals


Subcodes Trans Desc. & Date Reference & Batch Amounts

https://wd5-impl.workday.com/rochester1/fx/home.flex%3Brochester1%3Bhome.flex

October 16, 2013 UR Financials – Demo Days 17

Q & A – Part 1

October 16, 2013

Worktags

Company

Fund

Cost

Center

Ledger

Account

Spend

Category

Expense

Purpose

Revenue

Category

Gift

Loan

Program

Debt

Service Project

Grant

Operating

Program

OLD: Ledger+Account

X-XXXXX Subcode

YYYY -

- - NEW:

FRS Division

FRS Account

FRS Subcode

FRS Attribute

FRS Division = Workday Company. Required on all transactions

FRS Account = Only one of the Workday worktags in green will be entered on a transaction

FRS Subcode = Workday Spend Category for A/P, Revenue Category for A/R

Ledger Account for Journals (may require a Spend or Revenue Category)

FRS Attribute = Workday derived or inherited worktag

Division (derived)

Worktag

XXXXXX

Worktag

YYYYY

Company

CCC

The Financial Data Model (FDM)

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October 16, 2013

The Power of Worktags


What is a Worktag?

• Many keywords can be “attached” to a transaction.

• These keywords can then be categorized and grouped together.

• And - these keywords can then be aggregated, reported, and analyzed

across all transactions that contain that keyword(s).

Bottom-line – Worktags are simply descriptions and categories that

describe key characteristics of the transaction.

Think “Keywords attached to a transaction”

Very similar concept to #Hashtags used in Social Media. Link

But, not free form and Workday provides about 50 Worktag

Categories.

http://youtu.be/57dzaMaouXA

October 16, 2013



So what?

• Flexible

• Help to connect different types of transactions across the system

• Provide a dynamic / agile ability to slice and dice your data

Because Worktags are….

Let’s compare the tools:

FRS

• Paper

Cognos

• Blocks

Workday

• Rubik’s Cube

October 16, 2013

Demonstration 3



• Note: Screenshots in Appendix D


https://wd5-impl.workday.com/rochester1/fx/home.flex%3Brochester1%3Btask%3B2997%241422.flex%3ForiginalSearchScope%3D8912%25241%26originalSearchText%3Dfin%2520sta%26

October 16, 2013

Wrap Up

• A survey link will be emailed to provide feedback on this Demo

• Visit UR Financials Project website for information and materials from Demo Days and other meetings http://www.rochester.edu/adminfinance/urfinancials/

• Next Demo Days is Wednesday, November 20

• Please continue to reach out with questions and share project information with your Department


October 16, 2013 UR Financials – Demo Days 23

Q & A – Part 2

October 16, 2013 24

APPENDIX A (Screenshots of Report Type examples)

Note: This is a small sample; not a full list of report examples


October 16, 2013

Appendix A - Highlights of Workday Reporting Types


Formatted Statements

Financial Statements

Spreadsheet-like reports

Spreadsheets, subtotals, outlining

Pivot table-like Reports

Pivot-like, drilling, slicing, analytical

indicators

Dashboard-like

Worklets, alerts

WD Roadmap

Heavily investing in capabilities

October 16, 2013 26

Appendix A – Delivered Report Screenshot of Formatted Balance Sheet example


October 16, 2013 27

Appendix A – Advanced Report Screenshot of a Spreadsheet-like example


October 16, 2013 28

Appendix A – Matrix Report Screenshot of a Pivot-Table like example


October 16, 2013 29

Appendix A – Worklet Screenshot of a Worklet example


October 16, 2013 30

APPENDIX B (Monthly Ledger Prototype)


October 16, 2013 31

Appendix B – Monthly Ledger Scenario: Run Monthly Ledger Prototype • Search for Manager Financial Report


October 16, 2013 32

Appendix B – Monthly Ledger Scenario: Run Monthly Ledger Prototype • 1: Make selections in the prompts.

• 2: Save selections via “Saved Filters”


2

1

October 16, 2013 33

Appendix B – Monthly Ledger Scenario: Run Monthly Ledger Prototype • View Results

• Note: Expected to contain different columns than what appears.


Subcodes

Expect: • Spend

Category • Ledger

Accounts • Current Month • Fiscal YTD • Budget Amt • Variance to

Budget i.e. expect similar columns as today

October 16, 2013 34

Appendix B – Monthly Ledger Scenario: Run Monthly Ledger Prototype • 3: Expand details by drilling into total numbers.


3

October 16, 2013 35

Appendix B – Monthly Ledger Scenario: Run Monthly Ledger Prototype • View Journal details.

• 4: Print, Export to excel

• 5: Or drill down to the Journal Entry


4

5

October 16, 2013 36

Appendix B – Monthly Ledger Scenario: Run Monthly Ledger Prototype • 6: Printed version of Monthly Ledger Prototype


6

October 16, 2013 37

APPENDIX C (Prototype for Monthly Transactions)


October 16, 2013 38

Appendix C – Transaction Detail Scenario: Run Transaction Detail for one Operating Program • Search for Transaction Detail Report


October 16, 2013 39

Appendix C – Transaction Detail Scenario: Run Transaction Detail for one Operating Program • 1: Make selections in the prompts.



2

1

October 16, 2013 40

Appendix C – Transaction Detail Scenario: Run Transaction Detail for one Operating Program • View Results

• Note the similar columns


Subcodes Trans Desc. & Date Reference & Batch

October 16, 2013 41

Appendix C – Transaction Detail Scenario: Run Transaction Detail for one Operating Program • 3: Drill into any Journal.


3

October 16, 2013 42

Appendix C – Transaction Detail Scenario: Run Transaction Detail for one Operating Program • 4: Review Journal.


October 16, 2013 43

APPENDIX D (Power of Worktags)


October 16, 2013 44

Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin data.

This example leverages the results of a “Statement of Activities Report”.

• Description of Worktags – – http://blogs.workday.com/Blog/story_of_worktags.html


October 16, 2013 45

Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • This example uses a Financial Statement.

• Search Fin Stat


October 16, 2013 46

Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 1: Make selections in the prompts.



2

1

October 16, 2013 47

Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • View Results – and now drill, slice, dice, and spin on 62120 Supplies Labs.


October 16, 2013 48

Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 3: Drill into data by clicking hyperlink. A pop-up window will appear.


3

October 16, 2013 49

Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 4: Use related action triangle to slice data by Company.


4 Company


October 16, 2013 50

Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 5: Use related action triangle to slice data by Spend Category.


5 Spend Category


October 16, 2013 51

Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 6: Use Advanced button to spin data by Spend Category by Suppliers.


6

October 16, 2013 52

Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 7: Use related action triangle to slice Supplier by Company.


7

October 16, 2013 53

Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 8: Use advanced button to spin Company by month.


8

See next slide

October 16, 2013 54

Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 9: Drill into the $20,000


9

See next slide

October 16, 2013 55

Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 10: View Journal Lines.

• 11: Drill into Journal Entry by using the magnifying glass


11

See next slide

October 16, 2013 56

Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 12: View Accounting History

• 13: View Journal Entry and approving manager of Abe Manager.

• 14: Time to call Abe Manager?


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ur financials project · 2013-10-14 · october 16, 2013 reporting strategy - overview ur...

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